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Kiplinger
Kiplinger
Business
Gabriella Cruz-Martínez

Trump’s Latest Pitch: No Taxes If You Earn Less Than $150K?

Donald Trump Trum Howard Lutnick United States the Trump Administration Social Security Tax Cuts Commerce IRS Kiplinger
Silver tax letters with a silver pair of scissors on a silver background.

President Donald Trump has flirted with the idea of abolishing the IRS and creating a revenue stream from tariffs to offset major tax cuts. His latest pitch reportedly calls to end taxes for individuals earning less than $150,000 a year.

“I know what his goal is — no tax for anybody making under $150,000 a year,” Commerce Secretary Howard Lutnick told CBS News. “That’s his goal. That’s what I’m working for.”

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